Gift from HUF not to be added to income of Karta of such HUF

Ranjitbhai Dhayabhai Panchal Vs ITO (ITAT Surat)

ITAT Surat held that gift received from HUF cannot be added back to the total income of the assessee being Karta (Manager) of such HUF.

Facts- During the scrutiny assessment, the Assessing Officer noted that assessee has shown gift of Rs. 18.00 lakh from Ranjibhai D. Panchal (HUF), wherein the assessee is a Karta (Manager) of such HUF. The Assessing Officer disallowed and added back the gift to the total income of assessee by taking view that HUF does n

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